AdvaMed Announces Cell Habitats as Business Plan Competition Winner

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Oct 08, 2014, 03:37 ET

CHICAGO, Oct. 8, 2014 /PRNewswire/ -- AdvaMed's Emerging Growth Company Council (EGCC) announced Monday that Cell Habitats has been awarded the Virginia Shimer Rybski Memorial Award, which recognizes the potential of a promising entrepreneur or entrepreneurial company. The award was announced at AdvaMed 2014, the leading MedTech Conference in North America. Competing companies presented to AdvaMed attendees and a panel of judges who selected Cell Habitats during the conference's Entrepreneurship Boot Camp.

Virginia Shimer Rybski Memorial Award Winner - Cell Habitats. (PRNewsFoto/AdvaMed)

"It is an honor to receive the AdvaMed 2014 Virginia Shimer Rybski Memorial Award. I am extremely grateful to the AdvaMed organization for this recognition, as it is a testament to our team's hard work and ingenuity in advancing our technology," said Michael T. Flavin, Ph.D., CEO of Cell Habitats. "Cell Habitats is working to redefine the field of tissue repair by using biological and physical cues to prompt the body's own stem cells to restore normal function to damaged tissue, so we are thrilled that this award will increase awareness of our company and allow us to continue to advance our development program."

"I am delighted with this honor and thank PROPEL for everything they do for life sciences startups in Illinois. Cell Habitats is very proud to be a PROPEL company and a recipient of the PROPEL Scholars Grant for AdvaMed 2014," said Brenda Russell, Ph.D., Chief Scientific Officer and Co-Founder of Cell Habitats. "This grant was essential for our participation in the competition and gave us the opportunity to present to this important network of individuals. We appreciate all of the doors that PROPEL has opened for us over the past few years that support the success of our company." Dr. Russell was the iBIO iCON Innovator Awardee in 2010.

"It is exciting to see a UIC spinout receive this kind of award,' said Nancy Sullivan, CEO and Managing Director of IllinoisVENTURES. "Cell Habitats has worked diligently to help advance the transformative technology and it is great to see their efforts recognized at AdvaMed. Congratulations to the Cell Habitats team."

The Virginia Shimer Rybski Memorial Award was created to encourage the enthusiastic pursuit of business excellence in the medical technology industry in memory of the late entrepreneur and patient care advocate Virginia Rybski, president and CEO of Regenesis Biomedical and a member of AdvaMed's Board of Directors and the Association's Emerging Growth Company Council Executive Committee, who passed away in 2013.

The award is presented each year to a single presenting company or entrepreneur. This year's award includes:

A $10,000 grant to be applied towards expenses required for commercializing an innovative medical technology;
Complimentary membership in AdvaMed for two years; and
A complimentary full-access pass to AdvaMed 2015 in San Diego, California, October 5-7, 2015.

The PROPEL Center of the iBIO Institute, dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois, awarded a total of 15 grants, including to Cell Habitats, to help Illinois entrepreneurs attend AdvaMed 2014: The MedTech Conference in Chicago. AdvaMed 2014 brings more than 1,000 companies together in a uniquely multifaceted environment for business development, capital formation, innovative technology showcasing, world-class educational opportunities and networking. An event rich in international flavor and featuring a diverse attendee list that includes influential policy-makers, business executives and media, AdvaMed 2014 seeks to advance industry discussion from key perspectives through detailed panel sessions, executive forums and more.

For more information on Cell Habitats, visit http://www.cellhabitats.com.

About PROPEL
PROPEL is a group of programs aimed at increasing the number and success rate of early-stage life sciences companies in Illinois. PROPEL helps guide the development of formation-stage and early-stage life sciences companies by providing entrepreneurs with access to specialized resources and expertise to prepare them for early-stage funding. PROPEL is a Center of the iBIO Institute. To learn more about PROPEL and its programs, visit www.ibiopropel.org.

About iBIO Institute
The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures. The Institute's EDUCATE Center delivers science and math programs for teachers and students, thereby inspiring the next generation of innovators and helping restore America's leadership in technology education. The Institute's PROPEL Center increases the number and success rate of early-stage life sciences companies in Illinois. To learn more about iBIO Institute and its programs, visit www.ibioinstitute.org.

About AdvaMed
AdvaMed member companies produce the medical devices, diagnostic products and health information systems that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.

About AdvaMed EGCC
The Emerging Growth Company Council (EGCC) is the division within AdvaMed dedicated to addressing the unique needs and challenges of smaller medical device and diagnostics manufacturers – the lifeblood of the medical technology industry. The only organization of its kind focusing specifically on the needs of the medtech industry's emerging growth companies, AdvaMed EGCC works to create a policy environment more conducive to capital formation and innovation. For more information, visit www.advamedegcc.org.

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SOURCE AdvaMed